Baker Associates LLC has purchased a 38,600-square-foot office/warehouse facility at 1424 Baker Road in Virginia Beach from Green Dot Inc. for $1.5 million. It plans to use the 4.3-acre site in the Airport Industrial Park as a redevelopment/investment property.

According to Cushman & Wakefield | Thalhimer, which handled the transaction, Eimskip, USA, Iceland Steamship Inc. has signed a 22,600-square-foot-lease to be the lead tenant in the complex, and a 16,000-square-foot office/warehouse suite is available for lease.

Tony Weiss and Patrick Mumey of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of both parties. Thalhimer also was selected by the new owner as the exclusive agent to handle the property’s leasing.